The bookkeeper/cashier at Ivanhoe Enterprises recorded the following journal entry: Allowance for Doubtful Accounts Accounts Receivable - Michael James Which one of the following statements is false? 800 800 There could be a violation of internal control policies. There should be written authorization for this transaction from someone who does not have responsibilities related to recording cash. This entry is only prepared on the last day of the accounting period. James' account was written off because it was determined to be uncollectible.

The bookkeeper/cashier at lvanhoe Enterprises recorded the following journal entry: Allowance for Doubtful Accounts 800 Accounts Receivable - Michael James 800 Which one of the following statements is false? There could be a violation of internal control policies. There should be written authorization for this transaction from someone who does not have responsibilities related to recording cash. This entry is only prepared on the last day of the accounting period. James' account was written off because it was determined to be uncollectible